Recovery Fund: Financing of the digital transformation of HELPE by Alpha Bank

Helpe Digital S.A., a 100% subsidiary of Hellenic Petroleum Holdings S.A., proceeded on Tuesday, August 30, 2022, to signing a loan agreement with Alpha Bank, for the financing of the digital transformation program of the Hellenic Petroleum Group, with the participation of the Recovery and Resilience Fund (RRF).

The financing will be carried out through the issuance of a joint bond loan of 33.4 million euros, with a duration of 15 years, with the participation of the RRF and Alpha Bank, and will cover 80% of the digital transformation investment program.

The digital transformation plan

The overall digital transformation investment plan of the HELPE Group, as approved and implemented since July 2020, concerns the following areas of activity:

• The Digital Enterprise, with individual areas of supply chain management, infrastructure maintenance, optimal energy management, digital operations and Refinery performance management,
• Digital Commerce, with a series of improvements in the functions of Commerce and foreign subsidiaries, as well as the introduction and development of a loyalty platform,
• Digital central services, which include projects in the areas of financial services and Group procurement, as well as
• Series of actions for the Digital modernization of the Group’s central systems (ERP) and the strengthening of Cyber ​​Security.